Respected All Members I had a query regarding NGO Registration U/s 12AA/12AB. A NGO has applied for provisional registration U/s 12AA by filing Form 10A in the F/Y 2021-2022. The NGO has been granted provisional Registration for 3 years (upto AY 2023-2024). However, the NGO has not applied for permanent registration till date. The NGO has already started the charitable activities from the F/Y 2021-2022 and has not applied for Permanent registration within 6 months from the date of start of charitable activities. Now, what is the remedy as the time period to file the permanent registration has expired? Please…
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Sir, Is tds under section 194q applicable in case of a buyer whose income is exempt u/s 11?
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I have a charitable trust registered under 12AA Can I utilise my fund to provide food to orphanage
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In case of a charitable society running educational institution, if all the members of the society, retire and new members are introduced the executive body is also replaced by the new members. However, this being a commercial deal, the incoming members desire to pay the outgoing members say by way of gift through account payee cheques. In such a situation can incoming members pay to the outgoing members directly. The outgoing members are in the tax bracket of 30% plus surcharge, then what will be the implication of such transaction, and whether society will lose its character of being a…
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Assessee is charitable trust having object of Education . During the year due to financial difficulties could not make the payment of TDS in time , however before receiving any notice from the department paid the TDS along with the interest . Now PCIT has issued SCN U/SEc. 276B/276BB of the Act. Assessee trust has submitted detailed reply stating the reasons for delay . however the PCIT has decided to initiate the prosecution proceedings . whether he is justified in law ? is there any remedy available ? whether the assessee should filed the WP before the HC? pl guide
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SIR, My doubt is if The Trust Registered U/S 11 and 12 of Income Tax Act got the voluntary contributions from public and utilized for the purchase of the fixed assets for the trust does it treat application of income u/s 11 of Income Tax or not and otherwise shall we show it as a corpus donations please clarify and Trust having 12 A Registration when 85% funds utilized from the Gross Receipts for development remaining 15% can we carry forward in cash or bank form please clarify. Thanking you sir.
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Respected team, A charitable trust falling under general public utility, originally regd u/s 12A and now granted permanent registration u/s 12AB carried out commercial actitivity in the nature of business during F.Y. 2022-23 . however, it has not maintained seperate books of accounts for business activity. while computing tax liability, business activity and charitable activity to be computed seperately, if so, what is the tax rate for both activity ? whether Tax audit report in form 10BB (as total income exceeds Rs. 5 cr) and also form 3cb,3cd is to be filed ?
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Assessee is a Trust filing return in ITR 7. While filing the ITR 7 for the F.Y. 2021-22 in SCH IE-4 due to oversight assessee missed to fill up the "Amount applied for objective". However, assessee filled up for Gross annual receipts and Balance accumulated in SCH IE-4. Later the assessee received office communication to submit a response u/s 143(1)(a)(ii) We submitted a response. Later the assessee received an intimation order by CPC (treating the amount that we missed to fill up in the "Amount applied for objective ") as Income From Other Sources u/s 143(1) Kindly advise whether this…
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Assessee is Charitable trust registered U/Sec.12 A of the Act and it has received Rs. 5 lakhs on sale of lease hold rights. Trust has invested Rs. 5 lakhs in fixed Deposits for a period more than 12 month. However while filing Return of income assessee has insteade of disclosing under section 11(1A) through oversight has disclosed u/Sec. 11(2). Intimation received U/Sec. 143(1) Assessing income at Rs. 5 lakhs on the ground that assessee has not uploaded form 10 for exercise option u/Sec. 11(2). Assessee Trust has filed rectification u/sec. 154 mentioning the error happened while filling Return of Income…
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Respected Sir, A charitable trust regd u/s 12A failed to file the ITR for AY 2021-22 before the due date for filing of ITR i.e. after 15/03/2022 . However it filed audit report, Form 10B before due date for filing of form 10B. CPC while processing u/s 143(1) has not allowed the entire expenditure as application of income and treated the gross receipts as taxable income and taxed accordingly. In the intimation no reason given for the disallowance. For filing appeal what grounds can be taken and apart from appeal , any other alternative remedy available . Kindly enlighten.
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Query regarding NGO Registration U/s 12AA/12AB